How is life in Chicago with an annual income of $100,000?

In Chicago, the annual income of 100,000 US dollars is a very high income, and the standard of living is undoubtedly above average.

Expert analysis (taking Los Angeles as an example)

Income: Annual salary of 100,000, but actually less than 6,000 per month

Monthly net income = monthly taxes Previous income 8333.33-1252.92 (federal tax)-350.00 (social insurance)-120.83 (social medical insurance, excluding personal medical insurance)-603.76 (California state tax)-83.33 (disability insurance SDI) = 5921.49 (knife)

< p>The above is not the actual amount of money you can receive every month. In California, pension insurance 401k can be deposited according to personal needs, more or less. Generally, you save more than $1,000 per month, and the annual limit is about $17,000. Strictly speaking, pension insurance as a deposit can also be regarded as part of net income. In addition, married people will have to pay tens to hundreds of dollars every month for family medical insurance.

Expenses: The cost of living really shouldn’t be underestimated

Renting: The specific cost of renting a house varies greatly in different regions, even in California. However, renting in California is still more expensive than elsewhere. For example, the monthly rent for an ordinary two-bedroom apartment in West Los Angeles is generally 1,500 to 2,000 knives, while the cheaper places in the east only cost 1,000 to 1,500 knives. For individuals, it is reasonable to limit rent to one-third to one-fifth of their income.

Buying a house: Regional differences are even greater, ranging from RMB 30,000 to 400,000 to over one million, with an average of RMB 600,000 to RMB 700,000, and you have to pay a real estate tax of 1.25% every year.

Supermarket shopping: 200-300 knives per month (about 20 per person at a restaurant)

Communication: Internet and TV are about 60 knives per month, mobile phones are about 60 per person 50 dollars.

Transportation: If a car costs more than NT$20,000 and the loan is repaid in 5 years, approximately NT$350 will be deducted every month.

Clothes: A piece of clothing costs about 60 dollars, and a cheap T-shirt only costs about 10 dollars.

Children’s education (for those with children): The cost of raising each child before college is about 30,000 to 40,000 dollars per year, which equals 2,000 to 3,500 dollars per month.

The above are rigid expenses (the same as buying a house or renting a house). If you have other hobbies or a pursuit of a higher quality of life, such as buying good quality electrical appliances, buying cosmetics and jewelry, falling in love Luxury goods, movies and other entertainment, then the expenditures will certainly not be limited to these.

With an annual salary of 100,000, it is really a burden on the family

Generally speaking, California is indeed a place with high income and high land prices in the United States. Compared with other cities, maintaining the same The standard of living and starting salary should be higher to be quite attractive.

As shown above, in terms of net income, excluding various taxes, medical insurance, and pension insurance expenses, the actual monthly income is less than 6,000 dollars. In terms of expenditure, renting a house in California is more expensive than in other areas. A house that can be rented for less than $500 in other places costs at least a thousand dollars per month in California.

For different groups of people, the life of this $100,000 annual salary is also different. If you are single and have no family support, you can live a good life with an annual salary of 100,000 yuan, even in California. But if you already have children, the pressure of buying a house and having your children go to school is not a small burden. Some people say that there is a joke circulating in the Bay Area of ??California. The poverty line in the Chinese community here is 300,000 US dollars for a family and 150,000 US dollars for a single person.

Why do people with or without families, or more specifically children, exert completely different financial pressures on individuals? If both parents work and the child is still young, then $1,000 will be deducted per month for child care. When children reach school age, they have to buy a house in a school district for the sake of their future, and a small house in a decent school district in San Francisco starts at 500,000.

Next, after the children go to college, they will still have to pay a lot of tuition and fees (for example, Berkeley’s tuition and fees alone have exceeded 50,000 a year, and the rent, food expenses, and book expenses added up are also Tens of thousands required). It can be seen that even with the same annual salary of 100,000, having or not having children has a considerable impact on the quality of life.

What does an annual salary of 100,000 mean to Americans outside California?

In the United States, an annual salary of 100,000 is quite high. In the top 50 wealthiest cities in the United States, the median household income is only US$250,000. The median income of ordinary working-class families is only US$250,000. Less than 60,000. For a well-known large company like Google, the salary of employees who get H1B is just over 100,000.

Most of the people who can get H1B jobs in the United States are well-educated elites. Therefore, a salary of 100,000 can be said to be far higher than the average social salary. For example, the starting salary of engineering graduate students at Tsinghua University and Peking University is much higher than The average income in Beijing is the same. Of course, large companies may also issue shares, etc., but those are in the minority, and we will only discuss wages here.

Overall, $100,000 is a good income in the United States. If we define families with incomes between 40% and 80% as middle class, in 2013, the annual income of middle-class families in the United States was approximately between US$53,000 and US$84,000.

In terms of net income, after deducting various taxes, medical insurance, and pensions (assuming that you save a considerable amount of money every year in a private pension account, such as 401k, you can now save $17,000 every year) , and finally got it, which can make 4,500-5,000 knives a month.

Basic living needs, excluding housing, if you mainly cook by yourself, the electricity bill, gas bill, Internet bill, meal bill, etc. will cost about 1,000 knives a month.

Please adopt if you are satisfied.